TPG closes fund at US$4.6 billion

American private equity firm TPG has closed TPG Capital Asia VII with commitments of over US$4.6 billion. This exceeds the fund’s target.

“With Asia VII, we will continue to invest in opportunities that reflect our differentiated investment strategy, deep sector expertise, and focus on operational improvement. We look forward to continuing to deliver value for our investors while helping to build great new companies across Asia,” said Ganen Sarvananthan, co-managing partner for TPG Capital Asia.

The fund has already committed more than 40% of the capital across 12 companies, including Pathology Asia Holdings, Healthscope’s Asian Pathology business that operates 39 labs across Singapore, Malaysia and Vietnam; ASX-listed integrated pet care platform Greencross Limited; as well as Du Xiaoman, the consumer lending, wealth management and payments platform spun out from Baidu, and UPL, a global leader in agricultural solutions.

TPG established its first Asia fund in 1994. The platform has invested $11 billion in 88 investments across 13 countries.

In Asia it has offices in Beijing, Hong Kong, Mumbai, Seoul, Singapore, and Melbourne.

Overall, TPG manages assets worth US$103 billion around the world.